Post Tagged with: "finance"

How You Can Benefit from a Customs Broker

November 14, 2018 at 8:13 am Comments are Disabled

CargosStill waiting for a word if your shipment across the border will arrive on time? Maybe you need some quick-fire solutions to avoid the long wait and the inefficiencies that come with it. Try seeking for the services of a customs broker.

Licensed by the local customs office, a customs broker is knowledgeable of all thing customs, from tariffs schedules to laws and regulations. If you are looking for a customs broker in the Philippines, see below the key benefits you can derive from them.

Saves Time and Money

Having goods released from customs takes a significant amount of time. The paperwork and procedures alone can be hefty. Since brokers face daily customs-related issues, expect faster service. Another thing that a broker can provide is an automated service.

We know that automation can hugely impact the exchange of data and information. Often, brokers use tools and in-house systems (e.g., EDI solutions, e-billing) that drive efficiency, lowering costs and risks along the way.

Offers Important Guidance

From taxes to landing costs, you get the best advice from a customs broker. They provide you updates on how to prepare your shipments to limit additional costs and notify you if your shipment met regulations and recommend some solutions in case they did not.

Moving your goods across the border requires the expertise of the entire customs process. Apart from taxes and fees, a broker can answer all your questions on regulations, valuations, and all.

Leads to New Buyers and Markets

A customs broker has a unique advantage when it comes to putting your goods to the right place. Through their coverage, they will be able to help you expand to new markets. Getting your shipment to your buyers efficiently is one.

But getting help from their networks of locations in major ports and border crossings can definitely open new doors. Brokers usually have other services that you can utilize to reach new buyers and markets.

In the customs world, efficiency is king. Transporting or receiving imported goods consumes time, and, hence, entails a cost. Finding the cheapest and quickest way is the best thing a customs broker can do.

IVA: How to Get Out of Debt with This Solution

August 20, 2018 at 2:27 pm Comments are Disabled

Guy looking at his empty walletGetting yourself out of debt is a huge undertaking. It requires discipline and planning. And most of the time, you cannot do it alone. You would need the assistance of insolvency practitioners and advisors from organisations like in handling your debt repayment plans.

What is an IVA?

The assistance service you will get from these professionals does not necessarily mean financial help. Their service often comes in the form of their ability to negotiate the amount you need to repay so that you will not have to resort to filing for bankruptcy.

One of the best solutions insolvency practitioners offer is the Individual Voluntary Arrangement or IVA, which is an agreement with creditors to pay off all or a portion of your debts. The IVA requires an insolvency practitioner to help in determining how much you can pay monthly and how long this deal will last. For an IVA to be put in place, the agreement of the creditors holding 75% of your debts is necessary.

Your Responsibilities

The IVA is a negotiated repayment scheme that requires fixed monthly dues. All payments are forwarded to the insolvency practitioner, and it is his or her responsibility to divide the monthly payment to the creditors. It is also part of the insolvency practitioner’s job to add the IVA to the Individual Insolvency Register. This will be removed after three months.

The IVA also has provisions for non-payment. When the payments stop, the insolvency practitioner can declare an individual as bankrupt.

The IVA is a mechanism that forces an individual to pay off his or her debts; otherwise, he or she will be declared as bankrupt. This arrangement helps creditors collect on the loans with a repayment scheme.

How Your Dream House can be a Financial Nightmare

December 9, 2015 at 1:00 am Comments are Disabled

Home Finance in Salt Lake CityBuying your dream house can be a financial nightmare if you’re not careful. Beyond finding the right home with the perfect neighborhood price in Salt Lake City, there are certain factors that most first-time home buyers give little to no attention. Here are some of those mistakes you should try to avoid.

Maxing Out Your Mortgage

Once you’re mortgage qualified, you may be tempted to maximize your loan for the house you’re dreaming to have. However, you may find most of your budget relegated to your mortgage, and this can cause quite a shock to your finances.

Reserve only 30% of your combined salary for the house payments, so you still have a financial margin manageable enough for your other needs. Altius Mortgage, a mortgage company in Salt Lake City, says you may need the help of brokers to shop around for the best rates.

Not Factoring in Additional Property Expenditures

Now that you will own that house, you need to have it maintained and repaired when needed. Don’t forget about any renovations or restorations. Add to that the property taxes, home insurance, and home association dues. Make sure you figure these extra fees, so you know you can keep to your budget.

Neglecting Inspections

Don’t be taken over by the shiny new upgrades or the fresh coat of paint. A house inspection makes you aware of other repairs and upgrades you need. You may end up with a money-gobbling structure if you don’t get a professional to give you a second and realistic opinion about your dream house.

Having the house of their dreams is one of the ultimate goals of most homeowners, and it’s not a bad objective. Be realistic about your choices. Failing to do so can result in a realty nightmare you will find hard to wake up and walk away from.